Novozymes cautionary about 2012 outlook, on global economy concerns

In Denmark, Novozymes released their group financial report for 2011, stating Growth in local currencies was 10% compared to 2010. EBIT increased by 11% and took the EBIT margin to 22.3% despite a negative impact from higher raw material prices, acquisitions, and unfavorable currency rates.  Net profit grew by 13%, and free cash flow before acquisitions and divestments came in high, supported by the increased net profit.

Steen Riisgaard, President & CEO stated, “To sum up, although 2012 looks to be another uncertain year with respect to the global economy…”